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Last Updated on by Noni May
When you work as a freelancer, there are many benefits. You can set your own schedule and work pretty much anywhere in the world. All you need is your laptop and an internet connection, and you’re set. You can work the hours that you want, so it makes it a really flexible career. It is a good choice for people that need to work unconventional hours if they have children, for example. It isn’t all great, though. So if you are thinking of becoming a freelancer, there are many things to consider. Here are some of the problems that can arise and how you could deal with them.
Because you are the only one in the business, all maintenance is up to you. Be it your phone, computer and internet connection is your responsibility. You are the one that needs to back up your work and save things regularly. You will be the one that needs to set up and install anti-virus software and keep your computer or laptop safe. It is your livelihood, so it needs to be taken care of. If you think that it might be a bit too much for you alone, you could enlist the help of a Business IT Support team. Then, if disaster does happen, you can have help with recovery of your files. It can reduce how much your service is disrupted. When you are a freelancer, it is a massive deal as downtime when you can’t do work, means loss of earnings. So just things to consider when setting everything up.
When you work freelance you are your own boss which is great. But that also puts you in charge of every aspect of the business. You do the main bulk of the work, as well as the admin and marketing. You are also over the payroll funnily enough and in charge of taking care of the taxes. So you do need to have an all-around knowledge of business and how it all works. The first time that you a tax return, it might be a good idea to ask someone for help and advice. It might be a friend that is an accountant, or just hire an accountant. They can let you know how it all works, and what things are tax deductible, for example. From then on, you could take care of it yourself.
It is important to be financially savvy when you are a freelancer. Think about taking time off in any other job with an employer. There will be a vacation process where you apply, have it approved and then will still get paid during that time off. When you freelance, you don’t need anyone’s approval so you can take time off easily. But when you work you don’t get paid. So you need to be strict with budgeting and saving. Then it means you will financially be able to take time off. Getting the work and life balance is important but hard to do when you’re freelance.
The thing with freelance work is that it is one big learning curve all of the time. So just make sure that you are ready for it.